State Treasurer State of Michigan Has $15.02 Million Stake in Ulta Beauty Inc (NASDAQ:ULTA)

State Treasurer State of Michigan trimmed its position in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 6.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 43,284 shares of the specialty retailer’s stock after selling 3,000 shares during the period. State Treasurer State of Michigan’s holdings in Ulta Beauty were worth $15,015,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ULTA. Shine Investment Advisory Services Inc. boosted its stake in shares of Ulta Beauty by 85.0% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 74 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 34 shares in the last quarter. Legacy Advisors LLC acquired a new stake in shares of Ulta Beauty in the 2nd quarter valued at approximately $26,000. Motco acquired a new stake in shares of Ulta Beauty in the 1st quarter valued at approximately $29,000. Hudock Capital Group LLC acquired a new stake in shares of Ulta Beauty in the 1st quarter valued at approximately $34,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Ulta Beauty in the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

NASDAQ:ULTA traded down $0.22 during mid-day trading on Wednesday, hitting $340.06. 31,991 shares of the company’s stock were exchanged, compared to its average volume of 661,072. The stock’s 50 day moving average is $349.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.93 and a quick ratio of 0.74. Ulta Beauty Inc has a fifty-two week low of $224.43 and a fifty-two week high of $368.83. The company has a market cap of $19.70 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 1.43 and a beta of 0.96.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, May 30th. The specialty retailer reported $3.08 EPS for the quarter, topping the consensus estimate of $3.06 by $0.02. Ulta Beauty had a net margin of 9.92% and a return on equity of 36.48%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned $2.70 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, analysts forecast that Ulta Beauty Inc will post 12.77 earnings per share for the current year.

In other Ulta Beauty news, Director Sally E. Blount sold 315 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $359.28, for a total transaction of $113,173.20. Following the completion of the transaction, the director now owns 989 shares in the company, valued at approximately $355,327.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Catherine Ann Halligan sold 400 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $343.02, for a total transaction of $137,208.00. Following the transaction, the director now owns 2,811 shares of the company’s stock, valued at approximately $964,229.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,715 shares of company stock valued at $958,441. Company insiders own 4.20% of the company’s stock.

ULTA has been the topic of a number of research analyst reports. Robert W. Baird restated an “outperform” rating and issued a $395.00 price target (up from $365.00) on shares of Ulta Beauty in a research note on Thursday, April 18th. Deutsche Bank lifted their target price on shares of Ulta Beauty from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Monday, June 3rd. ValuEngine downgraded shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group lifted their target price on shares of Ulta Beauty from $370.00 to $390.00 and gave the stock a “top pick” rating in a research report on Thursday, July 25th. Finally, Piper Jaffray Companies set a $360.00 target price on shares of Ulta Beauty and gave the stock a “buy” rating in a research report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $353.39.

About Ulta Beauty

Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.

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Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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